DGAP-Regulatory: DEPFA ACS BANK: Confirmation by DEPFA ACS BANK and DEPFA Pfandbrief Bank International S.A. of the buyback and cancellation of certain covered bonds and the sale of assets

Freitag, 04.11.2016 11:50

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DEPFA ACS BANK / Miscellaneous - Medium Priority
DEPFA ACS BANK: Confirmation by DEPFA ACS BANK and DEPFA Pfandbrief Bank
International S.A. of the buyback and cancellation of certain covered bonds
and the sale of assets
04-Nov-2016 / 11:46 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Ad Hoc Announcement - For immediate release
RE: Confirmation by DEPFA ACS BANK and DEPFA Pfandbrief Bank International
S.A. of the buyback and cancellation of certain covered bonds and the sale
of assets
4 November 2016
Issued on behalf of DEPFA ACS BANK ('DEPFA ACS') and DEPFA Pfandbrief Bank
International S.A. ('DEPFA PBI' and together with DEPFA ACS, the 'Issuers')
in each case in respect of its covered bonds (as defined below) listed on a
trading venue within the scope of Regulation (EU) No. 596/2014 (the 'Market
Abuse Regulation'). The Market Abuse Regulation requires disclosure of
inside information relating to the Issuers and the covered bonds.
Background:
On 14 October 2016, DEPFA ACS and DEPFA PBI announced a transaction to
buyback and cancel certain of their covered bonds (respectively, asset
covered securities ('ACS') and Lettres de Gage Publiques ('LdG') and
collectively, the 'covered bonds') from FMS Wertmanagement AöR ('FMS-WM')
and then to sell to FMS-WM certain assets.
Confirmation of buyback of covered bonds:
With effect from today, DEPFA ACS confirms the purchase of approximately
Euro 4.0bn (in total nominal amount) of ACS (which include global notes and
registered notes). Details of the purchases of the global notes are set out
in the table below:
Issuer: DEPFA ACS

DEPFA PBI confirms the purchase of approximately Euro 826m (in total
nominal amount) of LdG (which include global notes and registered notes).
Details of the purchases of the global notes are set out in the table
below:
Issuer: DEPFA PBI

Cancellation of covered bonds:
All the covered bonds being bought back by the Issuers will be cancelled
where bought back in full or, where bought back in part, have the principal
amount outstanding reduced accordingly.
Sale of assets:
With effect from today, following the cancellation of the covered bonds
described above, FMS-WM will immediately complete the purchase from DEPFA
ACS of approximately Euro 4.1bln (in nominal value) of public sector assets
and approximately Euro 1.1bln (in nominal value) of public sector assets
from DEPFA PBI.
Purchase price:
The purchase price of both the covered bonds and the public sector assets
have been conducted on an arm's length basis and assessed at fair market
value.
FMS-WM and the wind down of the DEPFA group:
FMS-WM is the parent company of DEPFA BANK plc which is the parent of DEPFA
ACS and DEPFA PBI. FMS-WM was established in 2010 as a German state owned
wind down agency in order to wind up risk positions and non-strategic
operations in a manner aimed at maximizing the value of the relevant
assets. FMS-WM took ownership of DEPFA BANK plc in December 2014. The
strategy of DEPFA BANK plc is to continue to wind down its balance sheet
and those of its subsidiaries in a manner designed to maintain value.
Completion of the transactions identified in this announcement is a further
step in the wind down plan of the DEPFA BANK plc group which helps reduce
the cover pools of both DEPFA ACS and DEPFA PBI.
Media Contacts for DEPFA, the Issuers and FMS-WM
For DEPFA BANK plc and the Issuers:
Rachel Martin
Head of Communications
Tel.: +353 1 792 2144
rachel.martin@depfa.com
For FMS-WM:
Andreas Henry
Head of Communications
Tel.: +49-89- 9547627 250
andreas.henry@fms-wm.de
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Language: English
Company: DEPFA ACS BANK
1, Commons Street
Dublin 1 Dublin
Ireland
Phone: +353 1 792 2222
Fax: +353 1 792 2211
E-mail: info@depfa.com
Internet: www.depfa.com
ISIN: DE000A0BCLA9
WKN: A0BCLA
Listed: Regulated Market in Frankfurt (General Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Munich, Stuttgart, Tradegate
Exchange; London
Category Code: MSCM
TIDM: -
Sequence Number: 3566
Time of Receipt: 04-Nov-2016 / 11:11 CET/CEST
End of Announcement EQS News Service
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